Archive for the ‘business loan’ Category

Chock it up to… whatever you want. A BoA study shows that business women are more optimistic about their future, versus their male counterparts. This study shows something odd, as the economic turnaround should show that everyone is optimistic. Maybe it is just the nature of those who answered the survey to be cautious, or maybe it is the type of business they operate. Men are more likely to operate a high risk business, so that could play a big part into this survey.

Year over year, women small business owners’ confidence has largely remained steady as their male counterparts’ confidence has declined. The number of male entrepreneurs who expect revenue to increase over the next 12 months has declined by 18 percentage points, and the number planning to grow their business over the next five years fell by 16 percentage points since spring 2015. Women’s revenue expectations and growth plans remained steady year over year, declining by 3 percentage points or less. Growth issues could range from anything in regards to actual growth, to revenue – and even funding sources, such as a business loan.

Business loans are a no-go for the vast majority of merchants. A bank loan can cripple you and your business, thanks to its collateral, its high interest rates, and large lump-sum repayments monthly. This can cause a premature closure of a business – and you will still owe back these funds! There are better options available, such as a merchant cash advance that can get you the funds that you need without crippling your business. Be sure to ask your merchant account processor about this funding option, if you are in need.

Women are overall more optimistic than men about the future of their businesses, and maybe it doesn’t have anything at all to do with funding. Maybe it is an overall sense of empowerment, that they are achieving something that their grandmothers and mothers couldn’t do: Be a successful entrepreneur. Your mood can play a big part into how successful your business is, so maybe that’s why women are more optimistic about the future of their businesses.